LPL Financial Portfolio holdings
LPL Financial, founded in 1989 through the merger of Linsco and Private Ledger and headquartered in San Diego, California, is the largest independent broker-dealer in the U.S., supporting over 22,000 financial advisors who manage more than $1.4 trillion in advisory and brokerage assets as of late 2024. Serving independent advisors, banks, and credit unions, LPL provides a robust technology platform, research, and back-office support, enabling advisors to offer personalized wealth management, retirement planning, and investment services to clients without proprietary products. The firm, publicly traded since 2010 under CEO Dan Arnold, has grown through acquisitions like Waddell & Reed’s wealth management business in 2021, emphasizing flexibility and advisor autonomy. With additional offices in Fort Mill, South Carolina, and Boston, LPL Financial remains a leader in empowering advisors amid a shifting financial landscape.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Core S&P 500 ETF
IVV
|
+$503M |
| 2 |
iShares S&P 100 ETF
OEF
|
+$496M |
| 3 |
BlackRock US Equity Factor Rotation ETF
DYNF
|
+$494M |
| 4 |
Capital Group Dividend Value ETF
CGDV
|
+$400M |
| 5 |
BDYN
iShares Dynamic Equity Active ETF
BDYN
|
+$388M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI EAFE Growth ETF
EFG
|
+$383M |
| 2 |
iShares US Technology ETF
IYW
|
+$332M |
| 3 |
iShares MSCI USA Quality Factor ETF
QUAL
|
+$177M |
| 4 |
iShares MSCI EAFE Value ETF
EFV
|
+$130M |
| 5 |
iShares Core Universal USD Bond ETF
IUSB
|
+$125M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 8.85% |
| 2 | Financials | 3.63% |
| 3 | Consumer Discretionary | 2.79% |
| 4 | Communication Services | 2.54% |
| 5 | Industrials | 2.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1176
Vanguard S&P Small-Cap 600 Growth ETF
VIOG
$1.05B
| $27M | 0.01% |
221,531
+14,617
| +7% | +$1.73M |
|
|
EVSD
1177
Eaton Vance Short Duration Income ETF
EVSD
$1.35B
| $26.9M | 0.01% |
522,752
+72,642
| +16% | +$3.73M |
|
1178
Builders FirstSource
BLDR
$7.15B
| $26.8M | 0.01% |
220,686
-121,504
| -36% | -$16.1M |
|
1179
Omega Healthcare
OHI
$15.1B
| $26.7M | 0.01% |
633,580
+54,061
| +9% | +$2.18M |
|
1180
FT Vest Gold Strategy Target Income ETF
IGLD
$509M
| $26.7M | 0.01% |
1,116,883
+697,116
| +166% | +$15.5M |
|
1181
First Trust Nasdaq Bank ETF
FTXO
$305M
| $26.7M | 0.01% |
749,754
+132,202
| +21% | +$4.6M |
|
1182
ALPS O'Shares US Small-Cap Quality Dividend ETF
OUSM
$886M
| $26.7M | 0.01% |
595,672
-811
| -0.1% | -$36K |
|
1183
WisdomTree Emerging Markets SmallCap Dividend Fund
DGS
$1.69B
| $26.6M | 0.01% |
466,662
+45,161
| +11% | +$2.56M |
|
1184
Gabelli Equity Trust
GAB
$1.75B
| $26.6M | 0.01% |
4,368,708
+563,928
| +15% | +$3.38M |
|
1185
Ares Management
ARES
$28.9B
| $26.5M | 0.01% |
166,034
+14,687
| +10% | +$2.65M |
|
1186
PIMCO Municipal Income Opportunities Active ETF
MINO
$724M
| $26.4M | 0.01% |
581,592
+199,616
| +52% | +$8.84M |
|
1187
Incyte
INCY
$24.2B
| $26.3M | 0.01% |
310,638
+285,634
| +1,142% | +$22.6M |
|
1188
DNP Select Income Fund
DNP
$4.05B
| $26.3M | 0.01% |
2,630,905
+184,209
| +8% | +$1.81M |
|
1189
Blue Owl Capital
OWL
$6.96B
| $26.3M | 0.01% |
1,552,448
+1,411,235
| +999% | +$26.8M |
|
1190
Avantis US Small Cap Equity ETF
AVSC
$3.05B
| $26.2M | 0.01% |
457,572
-1,242
| -0.3% | -$68.5K |
|
1191
Dow Inc
DOW
$21.9B
| $26.1M | 0.01% |
1,140,161
-36,647
| -3% | -$913K |
|
1192
Atmos Energy
ATO
$28.8B
| $26.1M | 0.01% |
153,068
+10,617
| +7% | +$1.71M |
|
1193
Pacer Data and Digital Revolution ETF
TRFK
$945M
| $26.1M | 0.01% |
389,812
+349,607
| +870% | +$21.8M |
|
1194
Vanguard S&P Small-Cap 600 ETF
VIOO
$4.15B
| $26.1M | 0.01% |
235,821
-45,874
| -16% | -$4.89M |
|
1195
State Street SPDR S&P 1500 Momentum Tilt ETF
MMTM
$159M
| $26M | 0.01% |
91,034
+2,407
| +3% | +$662K |
|
1196
WisdomTree Trust WisdomTree Interest Rate Hedged High Yield Bond Fund
HYZD
$259M
| $26M | 0.01% |
1,156,009
+135,149
| +13% | +$3.03M |
|
1197
M&T Bank
MTB
$35.7B
| $25.9M | 0.01% |
131,306
+7,683
| +6% | +$1.51M |
|
1198
John Hancock Mortgage-Backed Securities ETF
JHMB
$203M
| $25.9M | 0.01% |
1,170,911
+49,638
| +4% | +$1.09M |
|
|
B
1199
Barrick Mining
B
$61.5B
| $25.9M | 0.01% |
790,273
+10,604
| +1% | +$269K |
|
1200
GraniteShares Gold Shares
BAR
$1.36B
| $25.9M | 0.01% |
679,244
+33,244
| +5% | +$1.13M |
|
Similar funds
LPL Financial's Q3 2025 Portfolio in Review
As of Q3 2025, LPL Financial held 6,030 positions worth $343B, up 14% from $300B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
LPL Financial deployed $23B of net new capital in Q3 2025, opening 481 new positions and adding to 3,569 existing holdings. Its largest new stake was iShares Dynamic Equity Active ETF: 15,367,303 shares worth $389M.
By sector, the portfolio is most concentrated in Technology at 8.8% of assets, up from 8.5% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was iShares MSCI EAFE Growth ETF, an estimated $383M trimmed.
- LPL Financial's largest Q3 2025 buy was iShares Dynamic Equity Active ETF: 15,367,303 shares worth $389M.
- LPL Financial added most to iShares Core S&P 500 ETF in Q3 2025, an estimated $503M increase.
- LPL Financial's biggest Q3 2025 reduction was iShares MSCI EAFE Growth ETF, cutting an estimated $383M.
- LPL Financial fully exited Hess in Q3 2025, selling an estimated $6.48M.
- LPL Financial's ten largest holdings make up 15% of its $343B portfolio in Q3 2025.
- LPL Financial opened 481 new positions and closed 237 in Q3 2025.
- LPL Financial's portfolio value rose 14% quarter-over-quarter to $343B.
Based on LPL Financial's 13F filing for Q3 2025, filed 12 Nov 2025.